Is Albemarle, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Albemarle has remained a Seller's Market.
Key Takeaway
Albemarle is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Albemarle, NC
How much do homes in Albemarle, NC cost?
Median Sold Price
$255,000
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Albemarle have sold for 6.3% more than they did a year ago.
Summary: The median home sold price in Albemarle was $255,000 in May 2024, up 6.3% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $67.5K | $99.5K | +47.4% |
| 2 Bedrooms | $159.9K | $170K | +6.3% |
| 3 Bedrooms | $246K | $261.3K | +6.2% |
| 4 Bedrooms | $311.2K | $319.3K | +2.6% |
| 5+ Bedrooms | $290K | $430K | +48.3% |
Summary: Albemarle housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 47.4%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 6.2%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 48.3%.
Median Sold Price Compared To Nearby Cities
| Albemarle | $239.8K | $255K | +6.3% |
| South Albemarle Township | $251K | $264.4K | +5.4% |
| North Albemarle Township | $233.5K | $244.7K | +4.8% |
Housing Supply in Albemarle, NC
How many homes are available in Albemarle, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 161 | 193 | +19.9% |
Summary: The Albemarle real estate market had 193 homes for sale in May 2024, a 19.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 30 | 29 | -3.3% |
| 3 Bedrooms | 101 | 125 | +23.8% |
| 4 Bedrooms | 22 | 30 | +36.4% |
| 5+ Bedrooms | 8 | 8 | 0.0% |
Summary: The Albemarle housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 3.3%, 3 bedroom homes increased by 23.8%, 4 bedroom homes increased by 36.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 39 | 34 | -12.8% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Albemarle, you may be able to get a good deal. 44.1% of homes here sold below asking price last month.
Summary: A total of 34 homes were sold or pending in Albemarle in May 2024, down by 12.8% month-over-month. Of the 34 sold homes, 44% were sold under asking, 38% were sold at asking, and 18% were sold over asking.
Days on Market for Albemarle, NC
How long does it take to sell a home in Albemarle, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 63 Days | 45 Days | -28.9% |
Summary: Homes in Albemarle had an average of 45 days on market in May 2024, down by 28.9% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Albemarle are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 34 homes were sold in Albemarle; 47% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
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